A merchant cash advance, or business cash advance, allows a business to borrow against its future earnings. Once the application is complete, provided loan terms can be customized by adjusting the advance amount and duration. Unlike other small business loans, collateral is not typically required to start a merchant cash advance, which means the approval process is easier and you can receive funds in as little as 24 hours.

Rather than a traditional interest rate, an MCA charges its fees as a factor rate. Your industry, years in business, financials, debit/credit transactions, and credit score may all play a role in determining your factor rate. Factor rates typically vary between 1.2 and 1.5. A higher factor rate corresponds to higher fees you are required to pay back.

Your advance is repaid based on your business’s daily sales. Depending on the way your advance is financed, your funder will take a daily percentage of total sales. Terms vary by funder, and we have many funders in our network. Your term manager will explain all your options to ensure you are receiving the best financial deal.

Qualifying for a cash advance is often very simple. Due to the nature and terms of the advance, the requirements for a business cash advance are typically lenient.

To qualify for a small business loan:

– Provide 3-4 months of your business’s bank statements
– Fill out our simple cash-advance application found at the top of our website.

What you can typically skip when applying for a cash advance with Fund Me Today:

– A credit pull
– Business or personal collateral
– Piles of paperwork

1. Securing an affordable interest rate will reduce the cost of capital on your merchant cash advance. It is important to know how much capital you will need.
2. Borrowing too much can increase the cost of repayment, while borrowing too little can leave you in further financial distress.
3. To avoid both of those scenarios, we recommend talking to one of our funding specialists who will walk you through your options and compare all of your offers to help you choose the right term.

Complete a super simple online application to determine your business’s eligibility or can be done over the phone with one of our funding specialists. Once the application is complete, estimated advance terms can be customized by adjusting the loan amount and duration. Once you have reviewed all your cash advance options and the application is complete and signed, the funds will be wired directly into your business’s bank account shortly thereafter.

If approved the advance will be transferred by the lender directly into your business bank account. Funds can be available as fast as the next business day.

It’s fast! We will provide you with funding options within 24 hours of receipt of a complete submission package. Funds can be transferred to your account in as little as 72 hours, sometimes less.

Loan amount range from $5,000 to $5,000,000, this will depend on your business’s eligibility.

All Industries are welcome. If your business grosses $120,000 in annual revenue and deposits a minimum $10,000 per month you will qualify for financing.

We don’t focus on one specific set of requirements or credit tier. Credit plays a part, but only a small one. We take all factors into consideration to find the right funding for your business.